Supplemental Income and Loss


Table of Contents

    Worksheet 1 — Excess farm loss from an interest in a partnership or S corporation involved in farming business(es)

    In determining if you have an excess farm loss, do not take into account any deductions for losses arising by reason of fire, storm, or other casualty, or by reason of disease or drought, involving your farm businesses.

    Note. When instructed in the worksheet below to enter an amount from line 30, 31, or 32 of Schedule E, include only the amount on that line that relates to farming businesses.

    1. Enter the amount from your 2013 Schedule(s) E, line 31. If this amount is less than $300,000 ($150,000 if married filing separately), stop here; you do not have an excess farm loss in 2013. If more than $300,000 ($150,000 if married filing separately), continue to line 2 1.            
    2. Subtract $300,000 ($150,000 if married filing separately) from line 1 2.      
    3. Enter the amount from your 2013 Schedule(s) E, line 30 3.            
    4. Is line 3 greater than or equal to line 2? If yes, stop here; you do not have an excess farm loss in 2013. If no, continue to line 5    
    5. Enter your net gain/loss from the sale of farming business property reported on Form 4797 5.            
    6. Enter your net gain/loss from the sale of farming business property reported on Schedule D 6.            
    7. Combine line 5 and line 6. If zero or less, enter -0- 7.      
    8. Add line 3 and line 7. Is this greater than or equal to line 2? If yes, stop here; you do not have an excess farm loss in 2013. If no, continue to line 9 8.      
    9. Enter the amount from your 2012 Schedule(s) E, line 32 9.      
    10. Enter your combined net gain/loss from the sale of farming business property reported on your 2012 Form 4797 and Schedule D. If zero or less, enter -0- 10.    
    11. Enter the amount from your 2011 Schedule(s) E, line 32 11.    
    12. Enter your combined net gain/loss from the sale of farming business property reported on your 2011 Form 4797 and Schedule D. If zero or less, enter -0- 12.    
    13. Enter the amount from your 2010 Schedule(s) E, line 32 13.    
    14. Enter your combined net gain/loss from the sale of farming business property reported on your 2010 Form 4797 and Schedule D. If zero or less, enter -0- 14.    
    15. Enter the amount from your 2009 Schedule(s) E, line 32 15.    
    16. Enter your combined net gain/loss from the sale of farming business property reported on your 2009 Form 4797 and Schedule D. If zero or less, enter -0- 16.    
    17. Enter the amount from your 2008 Schedule(s) E, line 32 17.    
    18. Enter your combined net gain/loss from the sale of farming business property reported on your 2008 Form 4797 and Schedule D. If zero or less, enter -0- 18.    
    19. Combine lines 9 through 18. If zero or less, enter -0- 19.      
    20. Enter the greater of line 19 or $300,000 ($150,000 if married filing separately) 20.      
    21. Add line 8 and line 20 21.      
    22. Excess farm loss. Subtract line 1 from line 21. If zero or less, you have an excess farm loss that reduces the amount of loss you can deduct this year. If you have more than one farming business with an overall loss this year, allocate the excess farm loss amount on a pro rata basis among those farming businesses. 22.      
               

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